Binance US Stock Market First Day Observation: Crypto Newcomers Favor Nano Stocks, $600 Million Trading Volume Accumulation Meets "Unlimited Issuance"

According to Mars Finance, on June 2nd, market data shows that on the first day of Binance's US stock trading, 11 US stocks had trading volumes exceeding $100 million, including: WOK Medical (WOK): $394 million; Virgin Galactic (SPCE): $287 million; Nvidia (NVDA): $215 million; ZCMD (ZCMD): $212 million; Nokia (NOK): $174 million; Intel (INTC): $136 million; Sphere 3D (ANY): $128 million; Optimum (OPTU): $125 million; AMC Entertainment (AMC): $117 million; HPE (HPE): $116 million; and Abits (ABTS): $104 million. Many of the stocks on the list are small-cap, micro-cap, or even nano-cap stocks. Among them, Sphere 3D, with a market capitalization of only $17.06 million, rose 28.11% in after-hours trading; ABTS, with a market capitalization of only $6.3484 million, surged 40% in after-hours trading on the US stock market. Both of these nanotechnology stocks had previously maintained low prices for a long period, and their unusual movements only began after they were listed on Binance and even in after-hours trading. It is worth noting that the extreme abnormal trading behavior of two nanotechnology stocks, WOK Medical and ZCMD Medical, with market capitalizations of $197,200 and $295,400 respectively, has attracted market attention. Taking WOK Medical as an example, crypto traders traded nanotechnology stocks using a meme-based strategy, attempting to "violently pump" the price after accumulating enough tokens. Although this caused the stock price to surge by 70% in a short period, it ultimately fell back to its original level. WOK Medical, a medical consumables manufacturer headquartered in Hangzhou, China (founded in 2022, IPO in August 2024), has been consistently losing money and its fundamentals are not viewed favorably. To avoid delisting due to persistently low stock prices, WOK Medical conducted two large-scale reverse stock splits of 1:100 in Q4 of 2025, a typical "survival cycle" operation for small-cap Chinese concept stocks listed on the US stock market. The reason why the stock price remained almost "unmoved" despite traders pouring in nearly $400 million in trading volume is due to WOK Medical's (WOK) combination of extremely ample authorized share capital, SEC Shelf Registration, and At-the-Market (ATM) plan. This allows the company to flexibly and readily "drip" new shares into the market without having to go through the full approval process each time. ZCMD is also a "survival-oriented Chinese concept stock," with its mainland China entity being Shanghai Zhongchao Medical Technology Co., Ltd. It possesses an extremely strong ability for "almost unlimited share issuance," its core strategy being a combination of massive authorized share capital expansion approved by shareholders, readily available F-3 registration, and repeated reverse splits to maintain its listing status. Unlike WOK's "continuous drip irrigation" approach, ZCMD employs a dilution model of periodic large-scale/registered issuances and flexible splits, but its actual operational flexibility is even greater.